Compact Names New Legislative Committee Members
WASHINGTON, D.C. (March
16, 2017) -
The Interstate Insurance Compact Commission's (Insurance Compact) Legislative Committee today announced the selection of Indiana Senator Travis Holdman and Alaska Representative Sam Kito for two-year terms as Chair and Vice Chair, respectively. As members of the Legislative Committee, Holdman and Kito will play essential roles in fulfilling the Insurance Compact's mission.
"We value the leadership and input of Legislative Committee members especially as we develop reasonable, balanced and consumer-oriented standards," said Jacqueline K. Cunningham, Compact Chair and Virginia Insurance Commissioner. "We want to thank Maryland Senator Delores Kelley for serving as Legislative Committee Chair for the past four years and look forward to working with Senator Holdman, Representative Kito and all Legislative Committee members."
"As a long-time member of the Legislative Committee, I am excited to serve as Chair and help the Insurance Compact achieve uniform requirements for insurance products that provide asset and retirement security to our constituents." said Indiana Senator Travis Holdman. "States are best-equipped to regulate their insurance marketplace and the Insurance Compact is effective in facilitating interstate cooperation to achieve uniformity"
"I look forward to continuing Alaska's commitment to providing legislative input to the Insurance Compact by serving on the Legislative Committee," added Alaska Representative Sam Kito. "Legislators have a key role to play in this important state-based initiative and I am honored to serve as Vice Chair."
Other members of the Legislative Committee include Maryland Senator Delores Kelley, Ohio Senator Bob Hackett, Hawaii Senator Rosalyn Baker, Arkansas Senator Jason Rapert, Kentucky Representative Steve Riggs and Vermont Representative Bill Botzow.
About the Commission
Currently, 45 jurisdictions have joined the Interstate Insurance Product Regulation Commission (IIPRC). Compacting members are Alabama, Alaska, Arizona, Arkansas, Colorado, Connecticut, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.
The IIPRC enables state insurance regulators to develop uniform national standards for asset protection insurance products, such as life insurance, annuities, disability income and long-term care insurance. The IIPRC establishes a central filing point for these insurance products, enhancing the speed and efficiency of regulatory decisions and allowing companies to compete more effectively in the modern financial marketplace, while continuing to provide protection for consumers.
For more information, visit www.insurancecompact.org.